Card issuance and programme management platform Highnote is moving into US merchant acquiring after raising $90 million in Series B funding.
The round led by Adams Street Partners, with participation from Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.
Founded by a pair of former executives at PayPal-owned Braintree, Highnote helps companies of all sizes to embed virtual and physical card payments, ledger, and wallet functionalities into their products.
With the launch of its acquiring solution, the firm now supports full pay-in and pay-out functionality for customers on the same platform as issuing, tapping a unified, core general ledger.
The API-based acquiring platform allows companies to accept card payments online via plug-in checkout software or custom features they design.
John MacIlwaine, CEO, Highnote, says: “The acquiring landscape has evolved over time and represents an opportunity for next generation customers to accelerate growth through embedded acquiring in addition to embedded issuing.”